The Kenya Kwanza Parliamentary Group made adjustments to the Finance Bill for 2024/2025 at a media briefing on Tuesday morning, subsequent to their gathering at State House.
Following the group’s meeting, Kimani Kuria, Chair of the Finance Committee, said in response to public input, the government had trimmed down the proposed taxes.
Kuria made clear that the suggested Eco Levy would solely be applicable to imported finished goods, with exemptions for items manufactured within Kenya.
He specified that domestically made diapers and sanitary pads would be exempt from this levy.
Motor Vehicle Tax
In a bid to alleviate the effects of the escalating cost of living, the committee also confirmed the elimination of the proposed tax hike on mobile transactions from the bill.
Also Read: Report Reveals What CEOs Plan to Do Should Finance Bill 2024 Become Law
The government also agreed to abandon controversial tax proposals intending to raise VAT on bread by 16%.
Later today, Parliament will be presented with a report that excludes the disputed motor vehicle circulation tax.
Moreover, the government intends to decrease proposed taxes on cooking oil to ensure affordability for the Kenyan populace.
